Weekend Reading – Blowing $61 million, don’t panic, power of compounding and more #moneystuff
Welcome to my latest Weekend Reading edition – where I share some of my favourite articles from the week that was across the personal finance and investing blogosphere.
This was my lone post from this past week:
Enjoy the following news and these articles. Take care!
Former NBA No. 1 draft pick Joe Smith earned $61 million over his 16-year career. Today, he’s living paycheck-to-paycheck and owes $157,000.
Tawcan advised you not to panic on your journey to financial independence.
Get Rich Slowly reminded everyone about the power of compounding. We try and keep these three investing principles top of mind as well:
- Start investing early. The sooner you start, the more time money has to work. We really didn’t start our saving for retirement until our early 30s – but looking back 10 years now, I’m glad we did.
- Stay disciplined. Making regular contributions to our retirement accounts will pay off. Thanks to this discipline we’re more than halfway to this major financial goal to stop working or at least working whenever we want.
- Be patient. Easier said than done – especially with Trump running the U.S.A like some spoiled high-school brat who got elected class president. (I digress) Over time we know more money should show up in our accounts via dividends and price appreciation.
Last but not least – what is it going to be for you? Your money or your life?
Save, invest and prosper. Thanks for reading and enjoy your hard-earned weekend.